By Samuel Indyk
Investing.com – Shares in Oxford Instruments (LON:OXIG) were trading lower on Tuesday morning after the company announced preliminary results for the year ended 31st March 2021.
The manufacturer of high-technology products said revenue was broadly flat during the year, which was impacted by COVID-19 and described as a “challenging backdrop”.
The FTSE 250 company reported profit of £55.9mln, up 12.9% from last year, on revenue of £318.5mln.
The company also said its order book increased 13.2% to £198.1mln, giving “increased visibility for the year ahead”.
Nevertheless, company CEO Ian Barkshire was still relatively cautious about the company’s prospects.
“Our robust performance, strong order book and breadth of attractive end markets demonstrate the resilience of our business model, positioning us well for good progress in the year despite anticipated currency headwinds and the ongoing uncertainties as global economies look to recover from COVID,” Barkshire said.
The company also announced a full year dividend of 17.0 pence per share, comprising an interim dividend of 4.1 pence and proposed final dividend of 12.9 pence.
At 10:43BST, shares in the technology company spun-off from Oxford University were trading lower by 3.3% at 2,075 pence per share.